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The Boston Globe

Business

HSBC plans to find additional savings by 2016; 14,000 jobs could be cut

LONDON — After two years of far-reaching cost cuts and asset sales, HSBC said Wednesday that it planned to find an additional $2 billion to $3 billion in savings by 2016 that would include the elimination of as many as 14,000 jobs.

In a meeting with investors, the management team of HSBC said it aimed to increase dividends and was considering buying back stock. That would be a first among Europe’s largest financial institutions, which until now have mainly increased capital reserves to comply with stricter regulations.

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